Vietnam Starting To Feel Manufacturing Pinch

Industrial production in Vietnam -- looked at by many domestic manufacturers as a desirable outsource alternative to increasingly expensive China -- realized a growth rate of 14.6% to $38.4 billion in 2008, but that was lower than the country achieved in previous recent years due to the global financial turmoil.

According to Industrial Information Resources , foreign investors accounted for 40.1% of the total industrial production value and registered a growth rate of 18.2%. Private enterprises accounted for 34.5% while state-owned enterprises comprised the remaining 25.5%. Foreigh and private investoments realized much higher growth rates than the 5% realized by state-owned enterprises, showing that Vietnam is following the China model of opening up its economy.

China Disputes Steel Pipe Dumping Charges
China reportedly has appealed to a World Trade Organization dispute panel protesting against U.S. curbs on imports of certain steel pipes and other products. WTO agreed on Jan. 20 to rule on the dispute, although no decision is expected until late this year or into 2010. 

Industrial Controls Hires N.E. Account Manager
Industrial Controls Distributors LLC , a distributor of HVAC, process instrumentation and valves, has hired Michael Giordano as an account manager in the New England Region. He brings over 20 years of sales experience in the industrial market. Michael has been a successful Sales Representative and maintains sales and training certifications in process controls, motion control, data acquisition and flow measurements. His extensive understanding of these products makes him an asset to his customers. Headquartered in Wanamassa, NJ, Industrial Controls has 19 offices covering 22 states throughout the U.S.

Freeport-McMoRan Slashes Capital Spending
After posting a 4th quarter net loss of $13.9 billion, mining giant Freeport-McMoRan Copper & Gold Inc. announced it would reduce capital spending from $2.7 billion in 2008 to an expected $1.3 billion in 2009. "Capital spending plans will continue to be reviewed and revised as market conditions warrant," the company said in a statement. Projects deferred include a $500 million Climax molybdenum mine restart in Colorado.

USS Tubular To Relocate; Alvarado To Retire
United States Steel Corp. announced that it plans to relocate the administrative offices of its U. S. Steel Tubular Products subsidiary from Dallas to the company's corporate headquarters in Pittsburgh. The relocation will take place gradually over the next several months. The division will continue to maintain a significant presence in Texas through a sales office in Houston and other operating locations. USS also announced that Joseph Alvarado, vice president-tubular operations and president of the company's U. S. Steel Tubular Products subsidiary, will retire from the company on February 28, 2009. No replacement has been named yet. 

USS Enjoys One Last Profit Binge
U.S. Steel Corp.  announced a 4th-quarter 2008 net income of $308 million, up 780% compared with 4Q07's $35 million, as a result of strong sales in its Tubular segment as well as a gain related to an acquisition. Revenues for the quarter totaled $4.57 billion, up slightly from $4.54 billion in the same quarter of the previous year. However, the company said that it does not expect the momentum to continue. "We expect an operating loss in the first quarter as results continue to reflect the extremely difficult global economic environment," Chairman and CEO John Surma said in a statement. "We do not know when conditions may improve."

Will Obama's Infrastructure Program Pay Off?

The brainiacs at Wharton tend toward skepticism.

AEC Store Corner

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Intro to Pipe, Valves & Fittings - $134.00
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History of Plumbing CD - Sponsored by American Standard -$35.00
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Tech Tip #15 by Gregg Marshall
To help you make the most of the Digital Age.

Last time I helped you clean out the closet you call your hard drive, now its time to clean the Windows to speed up your computer.

Gregg Marshall, CPMR, CSP, is president of Rep Connection Inc. He can be reached by e-mail at gmarshall@repconnection.com, or visit his LinkedIn profile at http://www.linkedin.com/in/greggmarshall.

AnvilIntroduces New Gruvlok® Copper System
Anvil® International has introduced its Gruvlok® CTS Copper System, a grooved copper system that requires only a wrench for assembly on grooved end pipe, eliminating conventional soldering and brazing. Gruvlok® CTS Copper System fittings mate directly to copper tube, ranging from 2" to 8" in diameter. Anvil has produced a 12-page brochure on its Gruvlok CTS Copper System. Visit the link and click on Brochures.